EVERTEC, Inc. (NYSE:EVTC) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp reduced its position in shares of EVERTEC, Inc. (NYSE:EVTC) by 7.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,224 shares of the business services provider’s stock after selling 4,340 shares during the period. Texas Permanent School Fund Corp’s holdings in EVERTEC were worth $1,736,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Opal Wealth Advisors LLC acquired a new stake in shares of EVERTEC during the 2nd quarter worth approximately $28,000. Principal Securities Inc. purchased a new stake in EVERTEC in the fourth quarter valued at approximately $36,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of EVERTEC by 113.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,642 shares of the business services provider’s stock worth $65,000 after buying an additional 873 shares during the period. nVerses Capital LLC grew its stake in shares of EVERTEC by 68.4% in the second quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider’s stock valued at $106,000 after buying an additional 1,300 shares in the last quarter. Finally, EntryPoint Capital LLC raised its holdings in shares of EVERTEC by 48.9% in the 1st quarter. EntryPoint Capital LLC now owns 2,761 shares of the business services provider’s stock valued at $110,000 after buying an additional 907 shares during the period. Hedge funds and other institutional investors own 96.80% of the company’s stock.

EVERTEC Stock Up 0.6 %

EVERTEC stock opened at $33.98 on Thursday. The stock has a market cap of $2.19 billion, a PE ratio of 34.32, a P/E/G ratio of 1.63 and a beta of 1.15. EVERTEC, Inc. has a 1-year low of $28.76 and a 1-year high of $42.21. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.82 and a quick ratio of 1.82. The stock’s fifty day moving average is $33.48 and its two-hundred day moving average is $35.22.

EVERTEC (NYSE:EVTC) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.19. The company had revenue of $211.98 million during the quarter, compared to analysts’ expectations of $209.40 million. EVERTEC had a return on equity of 32.08% and a net margin of 8.84%. On average, sell-side analysts expect that EVERTEC, Inc. will post 2.53 EPS for the current fiscal year.

EVERTEC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Monday, July 29th were given a dividend of $0.05 per share. The ex-dividend date was Monday, July 29th. This represents a $0.20 annualized dividend and a yield of 0.59%. EVERTEC’s payout ratio is currently 20.20%.

Insider Activity

In other EVERTEC news, EVP Miguel Vizcarrondo sold 40,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $34.11, for a total value of $1,364,400.00. Following the sale, the executive vice president now owns 129,928 shares of the company’s stock, valued at $4,431,844.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Miguel Vizcarrondo sold 40,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the completion of the sale, the executive vice president now directly owns 129,928 shares of the company’s stock, valued at approximately $4,431,844.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $35.10, for a total value of $1,263,600.00. Following the sale, the executive vice president now directly owns 39,370 shares of the company’s stock, valued at approximately $1,381,887. The disclosure for this sale can be found here. Insiders own 0.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on EVTC. Susquehanna lowered shares of EVERTEC from a “neutral” rating to a “negative” rating and reduced their target price for the stock from $38.00 to $28.00 in a report on Thursday, September 5th. Keefe, Bruyette & Woods cut their price target on EVERTEC from $47.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $34.33.

EVERTEC Profile

EVERTEC, Inc engages in transaction processing business and financial technology in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean; Latin America Payments and Solutions; Merchant Acquiring; and Business Solutions. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.